Download This PaperWeekly versus Monthly Unit Value Price Indexes
9 Pages Posted: 22 Jul 2015
Date Written: July 17, 2015
Abstract
A previously overlooked source of potential bias in the Consumer Price Index (CPI) is described. We find that unit value (average) prices, commonly used for construction of the CPI should be constructed over the same period as the index to be constructed, rather than over an incomplete sub-period. The latter approach can lead to an upward bias in the CPI.
Keywords: Elementary price indexes, aggregation, inflation
JEL Classification: C43, C82, E31
Suggested Citation: Suggested Citation
Diewert, W. Erwin and Fox, Kevin J. and Haan, Jan de, Weekly versus Monthly Unit Value Price Indexes (July 17, 2015). UNSW Business School Research Paper No. 2015ECON15, Available at SSRN: https://ssrn.com/abstract=2634256 or http://dx.doi.org/10.2139/ssrn.2634256
Kevin J. Fox (Contact Author)
UNSW Australia Business School, School of Economics ( email )
High Street
Sydney, NSW 2052
Australia
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